Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Holdings Boosted by MetLife Investment Management LLC

MetLife Investment Management LLC grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,020 shares of the company's stock after purchasing an additional 8,085 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of Crinetics Pharmaceuticals worth $2,711,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC grew its holdings in Crinetics Pharmaceuticals by 75.5% in the 3rd quarter. Barclays PLC now owns 207,712 shares of the company's stock valued at $10,614,000 after buying an additional 89,358 shares during the period. Franklin Resources Inc. increased its stake in Crinetics Pharmaceuticals by 61.4% during the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock worth $73,815,000 after acquiring an additional 528,688 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Crinetics Pharmaceuticals in the 4th quarter worth about $818,000. SG Americas Securities LLC lifted its stake in shares of Crinetics Pharmaceuticals by 4,084.6% in the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock valued at $27,735,000 after purchasing an additional 529,483 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Crinetics Pharmaceuticals by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company's stock worth $14,612,000 after purchasing an additional 894 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Wednesday, January 22nd. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price objective on the stock. TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating for the company. Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX traded up $0.85 during mid-day trading on Friday, hitting $34.37. The company had a trading volume of 349,767 shares, compared to its average volume of 1,026,838. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -9.22 and a beta of 0.37. The firm's 50 day simple moving average is $32.14 and its two-hundred day simple moving average is $43.66.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 2,515 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the sale, the insider now owns 72,233 shares of the company's stock, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at $11,256,827.40. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,015 shares of company stock valued at $1,119,263. Company insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.